C2000 eyes £3bn turnover
After smashing through its £2bn target two years early, distribution giant sets sights on next big goal
Computer 2000 is aiming for £3bn turnover over the coming years after it hit its original £2bn target in its last financial year.
Speaking to a room packed with over 70 vendor channel chiefs at the firm's annual 'Vendor Summit' event in central London, Peter Hubbard, UK managing director of the distribution behemoth, revealed how the Basingstoke based firm had seen double digit growth (15 per cent) in the UK year on year.
“A year ago we talked about how we wanted to improve the breadth of the organisation, how we wanted to improve our reach, and when talking with customers how we have the opportunity to upsell and cross sell. Not only did we want to expand products, but we wanted to expand our routes to market.
“So how did we do in 2012? We always said we wanted to become a £2bn business by 2015. As we exited 2012 we were on a £2bn run rate and saw our share of the wallet increase to 39 per cent on average.”
Hubbard said the firm actively trades with 8,000 accounts and overall its accounts had grown between 1,500 and 1,600 from the previous year.
Computer 2000’s public sector business – which was launched last year – has grown 39 per cent and was now running two years ahead of expectations, he added.
“We also offered £1.5bn out in credit last year to help fuel the growth of SMB partners who struggle to get credit from other areas,” he said, referring to the success of its ‘credit elevation’ scheme, which can offer resellers up to £300,000 extra in credit over a period of time.
“But now we have got to move on,” he said to the assembled vendors. “We need to focus on how we as an organisation take ourselves to £3bn in the coming years. But we cannot do it without the support of everybody in this room. We want to be your go to distributor for every product form. We can do everything for you.
He hinted there would be some 'major' new vendor signings coming up in the near future and said the firm would be bringing a lot of new products to market in the next three to six months.
“We believe we can see huge double digit growth in the UK for years to come and we believe we are a real force in the channel, driving diversity in resellers and fuelling their growth,” he added.